Crypto Report: ICON Network (ICX) Review and Update for June 2018!

techblogger (69)in #cryptocurrency • 6 years ago (edited)

When it comes to cryptocurrency trading , we must keep in mind that anything and I mean anything can happen. Last year in 2017 we saw valuations explode and a general increase in prices for many if not most cryptocurrencies. This year can only be described as a bloodbath with Bitcoin decreasing from a record high of almost 20k USD to its current price floating at around 6500$ but still, the year isn't over. A comeback may still be in the cards!

When it comes to ICON (ICX) I firmly believe in its power to become a top 10 cryptocurrency token in 2018. I don't know when this is going to happen but I'm honestly excited to be invested in this project as it is South Korea's first blockchain and a project that has more potential than any others I've seen spring up in the past six months.

One of the biggest reasons for excitement around this token comes from its potential interoperability. Basically, I'm talking about the function of computer systems to exchange information seamlessly.

ICON (ICX) proposes to do something that very few other projects have dared to dream. They plan to connect all blockchain communities seamlessly, without regard to their individual coding languages.

Something that makes this vision more credible is the fact that ICON has already formed a “Blockchain Interoperability Alliance” with Aion and Wanchain. These triangle of blockchains working together will become a model for all future projects. This is my firm belief.

When you consider that all industries are moving towards blockchain adoption, it is easy to see the appeal of a project which wants to create an ecosystem for these individual data-ledgers to exchange information.

Interoperability is the future. When the future pops up many people don't recognize it as such but the smart money usually does and as the future becomes more apparent mainstreet slowly gets on board. This is what I expect to happen with ICX.

Apart from facilitating the exchange of information, ICON utilises a smart-contract system which ensures that any connected communities can autonomously authenticate contracts with each other, without having to worry about security. This is done using unique digital signatures.

Smart contracts, DAPPs and ICOs made Ethereum's market cap skyrocket and moved it into one of the top positions in regard to price per token when compared to other projects. With ICON (ICX) this will be no different. To me, this is South Korea's move into dominating a large chunk of the cryptospace with a project that will have others scrambling to catch up.

An example of such a system could involve a hospital, fetching a patient’s ID, stored on their blockchain, and sending a claim to an insurance company (which also uses blockchain tech) automatically and securely, without the need for cumbersome verification processes.

Decentralized communications are going to be the industry norm soon and the developers within ICON see that to be true and are working to solve the next step of the puzzle. How do I connect the hospital with the insurance company while ensuring all information is accurate and transparent?

This is a question that they have developed several answers to. It is jst a matter of time before this is implemented all across South Korea.

Icon has made many significant use-case partnerships with major banks, hospitals, universities and insurance companies, and is also listed on major exchanges such as Binance and OKEX.

It isn't just the tech that is superior here to many projects, it is the partnerships that have already been pre-established to roll this into full scale adoption.

They have connections with banks :

Woori Bank, which is one of the largest commercial banks in Korea with 15,000 employees and a $9.7 billion market cap.

SBI Ripple Asia, which manages a consortium of over 61 Japanese banks that are looking to use the Ripple payment system for cross-border payment between Japan and Korea.

They have connections with hospitals including Severance Hospital and Samsung Medical Centre.

They have established partnerships with universities such as Korea University, Sogang University and Sohang University of Science and Technology.

The list of their partnerships and connections is beyond the scope of this article so I hope my readers get the point.

Finally ICON (ICX) proposes to incorporate a new hot technology buzzing around. I'm talking about AI. They can easily accomplish this because they have DAVinCI. It has been described as the world's most functional artificial intelligence.

ICON will also have in-house AI capabilities using the DAVinCI AI platform which will support the development of the main ICON platform.

This is a unique partnership for ICON, and it is believed that the AI company’s machine learning algorithms will bolster ICON’s governance system.

So what we are looking at is the possibility of creating the world's most advanced DPOS (Delegated Proof of Stake system).

You aren't going to be able to trick this blockchain, it uses AI!

Based on all of my research there is no doubt that ICON is one of the highest potential projects of 2018 offering real-world utility. It has everything I look for in a project including strong strategic partnerships, a strong team, and a clear roadmap. And to top it all off did I mention it's South Korea's first and only blockchain!

What do you guys think of this review? Did I miss anything that should have been mentioned about ICON (ICX)?

Please leave your thoughts and comments below!

Disclaimer: @techblogger has invested in ICX due to his belief it has high potential. Always do your own research and never invest what you can't afford to lose!

Source:

ICON (ICX) Up 700% Since December as it Looks to “Hyperconnect the World” - Cryptovest

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Cryptovest

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